Title: Cybersecurity risk: A majorization approach
Authors: Maochao Xu - Illinois State University (United States) [presenting]
Maochao Xu - Illinios State U (United States)
Abstract: Cybersecurity has become a problem that is threatening the economy, human privacy, and even national security. However, the contributions to study the cybersecurity risk in the literature are largely descriptive, which is mainly because the cybersecurity risk is very different from the traditional risks covered by indemnity insurance. The significant property that distinguishes Cybersecurity risk from the conventional risk is that information and communication technology resources are interconnected in a network, and therefore the analysis of risk and its related potential losses needs to take into the network topology. We discuss the applications of majorization theory in the cybersecurity risk. Particularly, we study how the majorization theory could be used to address the heavy-tail cyber risk and cyber epidemicspreading over complex networks. A Monte Carlo simulation will be presented to support the theoretical results as well.